Gap beat quarterly estimates on the top and bottom lines, leading the retailer to raise its full-year guidance.
The retailer behind Gap, Banana Republic, Athleta and Old Navy blew past earnings estimates and beat on revenue, too. Gap is now expecting net sales to be up "slightly," compared to its previous forecast of flat. The company is expecting gross margins to grow by at least 1.5 percentage points, compared to earlier guidance of at least a half a percent.
"We were so excited to see in the marketplace and also dropped to consumers so that they had an opportunity to buy it," said Dickson. "We continue to believe again, that the better storytelling through marketing and innovative media is resonating."
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